Insider Guides to IRS Audits! > NetSparsh - Viral Content you Love & Share

Home
>
Tax
>
Insider Guides to IRS Audits!

Insider Guides to IRS Audits!

Ever wish that, as a business owner, you knew exactly what would raise "red flags" at the IRS? Or how to make an IRS audit go as smoothly and painlessly as possible?

If you're in the right type of business, you can get that information, directly from the IRS!

Traditionally, IRS examiners have been responsible for auditing many types of businesses. An examiner might audit a grocery store one week and a construction company the next. A lot of the examiner's time was spent learning about the business.

To improve efficiency, the IRS launched the Market Segment Specialization Program (MSSP). Examiners now focus on specific types of businesses. To help the examiners understand each type of business, the agency has developed training guides, called "Audit Techniques Guides." The guides explain the standard practices for the business, and tell the examiners exactly where to look for potential problems. (For example, auto repair shops sometimes don't report the parts they have in stock as inventory.)

The IRS has developed Audit Techniques Guides for dozens of business types, ranging from pizza shops to major league sports franchises. In addition, there are guides that deal with specific business practices, such as executive compensation, shareholder loans, or stock based compensation.

You can download the guides directly from the IRS website. There are other sites that distribute the ATGs as well, and some of them seem to have guides, perhaps a little out of date, that don't appear on the IRS website. Simply search the web for IRS Audit Techniques Guides to find a list!

Bob Nicholson / WYGK Consulting provides business, technology and strategic consulting for small businesses, internet start-ups and entrepreneurs.

Visit http://www.wygk.com

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Bloomberg
Top 3% of US Taxpayers Paid Majority of Income Taxes in 2016
Bloomberg
Individual income taxes are the federal government's single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to ...
REVEALED: Top 3% of America's taxpayers paid majority of income taxes in 2016Daily Mail

all 25 news articles »

Vox
Jared Kushner reportedly paid little to nothing in taxes for years — and it was completely legal
Vox
Jared Kushner, President Donald Trump's son-in-law, probably paid little to nothing in federal income taxes for multiple years, even as his net worth soared, according to a new report. And it was all likely completely legal. Jesse Drucker and Emily ...
The creative accounting that reportedly allowed Jared Kushner to dodge paying income taxes for years is totally legalBusiness Insider
New York Times: Kushner likely paid almost no federal income taxes for yearsCNN
How Jared Kushner Avoided Paying TaxesNew York Times
TIME -Rolling Stone -The Hill -New York Times
all 193 news articles »

Motley Fool
Beware: Social Security Can Make Your Taxes Soar
Motley Fool
There are still a few months before tax season begins, but for retirees on a fixed income, any hint of a higher tax bill requires careful pre-planning. For the most part, typical American retirees generally have modest incomes and are therefore in ...
Attention, High Earners: You Could Pay an Additional $279 in Social Security Tax in 2019Yahoo Finance
Your 2018 Guide to Social Security BenefitsMotley Fool

all 89 news articles »

South Korea considers cutting taxes on oil products amid rising pump prices
S&P Global Platts
Seoul — South Korea is considering cutting taxes on retail oil products to help ease the financial burden for consumers and boost domestic demand amid a slowing economy, a finance ministry official said Monday.

and more »

CNBC
Here are the best and worst states for taxes
CNBC
With federal income tax rates for all taxpayers down as of this year, you might be looking forward to a lower tax bill for 2019. Of course, what you pay to Uncle Sam is only one piece of your tax picture. Ever wonder how your state tax burden fares in ...
Report: Hawaii residents pay more in taxes than those in most other statesHawaii News Now

all 5 news articles »

Milwaukee Journal Sentinel
Tony Evers says he would cut income taxes by 10 percent for the middle class
Milwaukee Journal Sentinel
MADISON - Democrat Tony Evers pledged to cut income taxes for the middle class by 10 percent Sunday if he is elected governor, paying for his plan by rolling back a tax credit for manufacturers and farmers. Evers, the state schools superintendent ...
Tony Evers proposes cutting middle class taxes 10 percentMadison.com
Evers proposes tax cuts; Walker calls it publicity stuntkwwl.com

all 76 news articles »

The Hill
What Trump's tax story says about media manipulation
The Hill
The first hint came about a month and a half ago. A well-connected Democrat laid out a new scenario to me. It went something like this: “Democrats will take over the House and possibly the Senate after the midterms. We'll demand that Trump release his ...
Top-Spending Republican Group Says Little About Trump Tax Law in CampaignBloomberg
House Ratings | Inside ElectionsInside Elections
Trump approval rises, even as Democrats maintain clear midterm advantage - The Washington PostWashington Post
USA TODAY -USA TODAY
all 262 news articles »

KNWA
Arkansas Deadline to Pay Property Taxes is Monday, October 15
KNWA
Arkansas (KFTA) -- - Monday, October 15 is the statewide deadline to pay your property taxes in Arkansas. Most counties allow you to pay your tax bill online, however if you have any questions about that you should contact your county's tax collector.

and more »

CNN
NYT: Kushner likely paid little or no federal income taxes for years
CNN
NYT: Kushner likely paid little or no federal income taxes for years. Newsroom. Jared Kushner, whose net worth is nearly $324 million, appears to have paid almost no income taxes from 2009 to 2016, The New York Times reports. Source: CNN ...

Wall Street Journal
When the Fever Passes, Learn From Trump's Taxes
Wall Street Journal
Last Saturday's column on the New York Times investigation of Trump family tax dodging put aside the question of whether hefty inheritance taxes are good public policy. Let's take it up now. Those who complained that my nondefense “normalized” Trump ...
Donald Trump Is a Criminal Tax CheatThe Nation.

all 4 news articles »

Google News

Insider Guides to IRS Audits!

Tax Tax